if you are a business, then paying for endorsements is a normal and ordinary business expense. deductible to the business and income to the playerAre you saying that giving money to a collective is an ordinary business expense? Unclear to me.
That’s correct. My wife runs a nonprofit that works with themWell, yes and no. Yes in the general sense, but no in the case of the newer of the two Illinois collectives. It only sends players to charities. It does not sell business endorsements. Or at least that is my understanding of what it does and does not do. I have been wrong on occasion.
I'm not an accountant, but from the below article:Well, yes and no. Yes in the general sense, but no in the case of the newer of the two Illinois collectives. It only sends players to charities. It does not sell business endorsements. Or at least that is my understanding of what it does and does not do. I have been wrong on occasion.
I'm not an accountant, but from the below article:
"The organization's application for 501(c)(3) status is pending approval from the IRS, with an expected response in the summer of 2023. If/once approved, donor contributions to ICON Collective will qualify as being tax-deductible."
ICON Collective Launches to Provide NIL Opportunities to Illinois Student-Athletes - University of Illinois Athletics
ICON Collective to provide name, image and likeness opportunities to Fighting Illini student-athletesfightingillini.com
Did I miss something in the article? He seemed positive about everything and tried to put his move in terms others could understand. Roughly: "If others saw people at work doing less and getting paid more, they would want a raise too. I went and took a better paying job. I didn't take the highest paying job. There were other factors." That seems reasonable to me. This will probably be the biggest payday the kid ever gets. He should take it. The MI degree, while better, likely won't make up the difference over his career.
Dickinson said leaving Michigan was still one of the hardest decisions he's ever made. He "cried like a baby" when he told head coach Juwan Howard…
Dickinson said leaving Michigan was still one of the hardest decisions he's ever made. He "cried like a baby" when he told head coach Juwan Howard…
There’s only one way to interpret this. Juwan slapped him hard when he got the news.
There we go.Dickinson said leaving Michigan was still one of the hardest decisions he's ever made. He "cried like a baby" when he told head coach Juwan Howard…
There’s only one way to interpret this. Juwan slapped him soft like b**ch. But Hunter still cried like a baby; because he’s also a b**ch.
They also have #23 without a name.I'd 100% buy that jersey.
which marshalls?I'd like to know how Goode merchandise ended up in Marshalls. Hope he still gets his cut.
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Interesting and not the order I would have thought...but how much of that is Texas and Oklahoma?Big 12 Leads All Conferences in NIL Compensation
With an ever-changing climate surrounding recruiting in college sports through the use of NIL, the Big 12 Conference is staying ahead of the pack. In a recent chart from the Sports Business Journal, the Big 12 Conference officially checks in as the top conference for NIL compensation leading all...www.heartlandcollegesports.com
Interesting and not the order I would have thought...but how much of that is Texas and Oklahoma?
Meh, I take this with a huge grain of salt. NIL deals are not public and Opendorse won't have a clue about most NIL deals done outside of its service, no?Big 12 Leads All Conferences in NIL Compensation
With an ever-changing climate surrounding recruiting in college sports through the use of NIL, the Big 12 Conference is staying ahead of the pack. In a recent chart from the Sports Business Journal, the Big 12 Conference officially checks in as the top conference for NIL compensation leading all...www.heartlandcollegesports.com